Taiwan: Exports remains robust in March
March 7, 2011
In March, exports increased 16.7% over the same month last year to USD 27.2 billion. The increase overshot market expectations that exports would expand 11.6%, but came below the 27.3% rise recorded in February. The increase reflected a 20.3% expansion in basic metals, as well as a 16.8% increase in plastics and rubber exports, owing to rising oil and raw materials prices. The government expects strong global demand for electronic products to sustain exports in the short term. Meanwhile, imports expanded 16.7% in March, slower than the 28.7% increase registered in February. As a result, the trade surplus widened from USD 0.9 billion in February to USD 1.8 billion. Exports continue to steam ahead, as the moving 3-month sum totalled USD 73.8 billion in March, which came in above the peak reached in August 2008.